Oct 15th 2019

NEWS UPDATE: Business leaders state technology will have biggest impact on future of work

Every week we give our opinion on a news update around HR, Tech and the Future of Work that we find interesting. Want to join the conversation? Post your opinion on our LinkedIn or Twitter, we’d love to hear from you.

Barclays have collaborated with BLM to produce a survey on what the future of work will look like. 

Over 80,000 business people were asked a series of questions on topics ranging from flexible working to productivity to gauge a view on how leaders in business are approaching the changing face of work.

Business leaders were asked what they felt will have the biggest impact on the way they work in the future. 31% said flexible working and 15% said the requirements of millennials and how they’re shaping the way work is structured. The majority (45%) said they felt AI and machine learning – and other disruptive technologies – would have the biggest impact with 47% saying they expected some of the roles around them to be displaced by technology.

Shift in demand for skills

Business leaders feel that these technological advancements will have a larger effect on the landscape of the working world than other developments.  As technology advances, the skills needed from the workforce will be transformed and shifted. The adoption of AI and automation will lead to a decline in demand for manual skills and rise in demand for technological skills.

This won’t just be contained to hard, technical skills. Demand for softer skill sets are also on the up. According to Deloitte, soft skill-intensive occupations will account for two-thirds of all jobs by 2030. Technological advancements and automation has resulted in a larger reliance on soft skills such as communication, creativity and problem solving.

How can businesses keep their workforce relevant

At Tempo we recognise this change and the need for workforces to deepen their skill sets and even acquire new skills altogether. There needs to be opportunities for workers to learn, develop and adapt in line with the new demands of the working environment in both  technological skill sets as well as softer skills.

Lifelong training and development that maintains a well-trained workforce is a key demand from the evolving working world. It will keep employees relevant, productive and able to continually add value to businesses. Employers need to ensure that learning opportunities are available and promoted sooner rather than later, as the demand for these skills is occurring at an accelerated pace.

Read more here on the importance of soft skills and how you can soft skills are assessed at the point of hire.